Grauman’s Chinese Theater is now TCL Chinese Theater

Yahoo reported that Chinese TV maker company TCL paid more than $5 million for the naming right to the Grauman’s Chinese Theater. The Vice President of TCL, Hao Yi, said, “This is one of the landmarks of North America, it can be a bridge to link the cultures of China and North America.”

The theater opened in 1927 by showman Sid Grauman with the premiere of the film The King of Kings directed by Cecil B. DeMille. Since then, the theater has become home to many premieres, as well as three Academy Awards ceremonies.

It is not the first time that Chinese companies invade the American entertainment industry. In September 2012, Chinese Dalian Wanda Group bought AMC, the nation’s second largest theater chain, for $2.6 billion, reported Chicago Tribute. Before buying the naming right of the theater, TCL company has already put their products in movies Transformers and The Avengers.